Overview and Scope
Military actuator refers to actuators that are used in military machines and equipment to achieve automation and movement. An actuator is a component of a machine or system that aids in generating mechanical force by converting energy, frequently electrical, air, or hydraulic energy.
Sizing and Forecast
The military actuators market size has grown rapidly in recent years. It will grow from $1.48 billion in 2023 to $1.64 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to aerospace and defense investments, advancements in weapon systems, automation in military machinery, naval systems integration, expansion of unmanned systems.
The military actuators market size is expected to see rapid growth in the next few years. It will grow to $2.43 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to modernization of defense systems, increase in unmanned systems, rise in cybersecurity concerns, shift towards smart actuators, advancements in robotics. Major trends in the forecast period include adaptation to harsh environments, rise in robotics and autonomous systems, emphasis on stealth and low noise, increased reliability and redundancy, adoption of smart actuators.
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Segmentation & Regional Insights
The military actuators market covered in this report is segmented –
1) By Type: Linear, Rotary
2) By Component: Cylinders, Drives, Servo Valves, Manifolds, Other Components
3) By System: Hydraulic Actuators, Electrical Actuators, Pneumatic Actuators, Electromechanical Actuators, Other Systems
4) By Application: Land, Air, Sea
North America was the largest region in the military actuators market in 2023. The regions covered in the military actuators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing military spending is significantly contributing to the growth of the military actuators market going forward. Military spending refers to money spent by a government to provide weapons, equipment, and soldiers to its military. Military actuators are used to provide motion control provision of torque, and equipment automation for logistics to transport, weapon operation, and other crucial applications in the military sector. The growing military spending of various countries around the world is a key driver of the military actuators market. For instance, according to the April 2022 data released by the Stockholm International Peace Research Institute (SIPRI), a Sweden-based government institute that provides information, analysis, and suggestions regarding armed conflict, military spending, the arms trade, disarmament, and arms control, the worldwide military expenditure increased by 0.7% in real terms in 2021, to reach $2,113 billion. Therefore, the growing military spending will drive the military actuators market.
Key Industry Players
Major companies operating in the military actuators market report are Curtiss-Wright Corporation, Triumph Group Inc., Moog Inc., Meggitt plc, Venture Manufacturing Company, Parker Hannifin Corporation, Kyntronics Inc., Nook Industries Inc., AMETEK Inc., Ultra Motion, Elektro-Metall Export GmbH, Honeywell International Inc., Safran S.A., Arkwin Industries Inc., Hunt Valve Company, Raytheon Technologies Corporation, Creative Motion Control, AUMA Riester GmbH & Co. KG, Liebherr-International Deutschland GmbH, Cobham Limited, Woodward Inc., Danaher Motion, Eaton Corporation plc, ElectroCraft Inc., GE Aviation, General Dynamics Corporation, HITTICO Lincoln, ITT Enidine Inc., Kollmorgen Corporation, Lord Corporation, MTS Systems Corporation, Nidec Corporation
The military actuators market report table of contents includes:
1. Executive Summary
2. Military Actuators Market Characteristics
3. Military Actuators Market Trends And Strategies
4. Military Actuators Market – Macro Economic Scenario
5. Global Military Actuators Market Size and Growth
…
31. Global Military Actuators Market Competitive Benchmarking
32. Global Military Actuators Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Military Actuators Market
34.Military Actuators Market Future Outlook and Potential Analysis
35. Appendix
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